Osama ruined my condo value?
I've been thinking lately about whether I should buy a condo (since I can't afford a house within 40 miles of DC). All this talk about the DC housing bubble showing initial signs of popping, or at least losing some air has scared me. As it is, it looks like my humble Federal salary will buy me a crappy one bedroom in a crappy condo building. As much as I'd love to live in Penn Quarter or Georgetown or even Clarendon, I think I'm stuck with the more "economically diverse" neighborhoods. I'm looking seriously at the River Place due mainly to its location, even though its a 50 year old building with small square footage (If anyone has any experience with this building, I'd love to hear about it). But then I got to thinking... DC is possibly terrorists' number one target. If they blew up a bomb on the Metro or in DC or pretty much anywhere around here, would that destroy the housing market? Would there be a mass exodus for the relative safety of Loudoun County? Or Bermuda? I'm deathly afraid that I'll take one of these risky ARM or interest only loans, the value will plummet (and I see this as the only thing that's really going to make the market collapse in a flash), and I'll be financially done for (like Eagle Eye Cherry's once glittering career; if only Eagle Eye had saved more than tonight, we would be blessed with more toe-tapping hits). Does anyone else have a take on this real estate terrorism fear, or am I just having first time buyers jitters?